Jeremy Lang Many South African small and medium enterprise (SME) owners are grappling with the stress and strain of running a business. This was confirmed by the findings of the second quarter 2018 SME Confidence Index, which reveals that 76 percent of the SME owners surveyed say that the pressure of running their own business can sometimes be overwhelming and limit their potential. Stress, however, is in many ways inevitable for entrepreneurs. So in light of Mental Health Awareness Month, Jeremy Lang, regional general manager at Business Partners Limited (BUSINESS/PARTNERS), says that it is vital for entrepreneurs to know how to manage their stress in order to prevent it from negatively affecting their physical and mental health, which in turn may have a detrimental impact on their business’ growth. The first step to better manage feelings of being overwhelmed, according to Lang, is to understand the underlying reasons for the stress and ensure that the corrective measures ar...

With Minister of Finance Tito Mboweni’s mini-budget speech still resonating and giving some hope with his call that ‘together, as a country, we can rebuild and recast our future... and choose a path that takes us to faster and more inclusive economic growth and strengthens private and public sector investment,’ the Franchise Association of South Africa (FASA) signs a Memorandum of Understanding (MOU) with the Small Business Institute (SBI). According to Vera Valasis, FASA’s Executive Director  ”the collaboration with SBI will provide FASA with an official ‘voice’ to be represented and lobby through the SBI at BUSA level on business related issues that arise on a regular basis.  We hope our involvement with both the SBI and BUSA will help strengthen the voice of small business and franchising in particular to government.” The Franchise Association of South Africa (FASA) has a proud 40 year history of nurturing entrepreneurship through the franchise business system and o...

Christo Botes According to recent research conducted by the Small Business Institute of South Africa, local small and medium enterprises (SMEs) are still economically fragile, with approximately 70% of emerging small businesses failing within the first two years of operation. While there is no quick-fix to the economic challenges that continue to plague South African small businesses, there are strategies that local SME owners can adopt to make their businesses more resilient to improve their chances of success. One widely-publicised success story that is testament to this, is the growth of Ethiopian Airlines. In a region where most airlines have struggled to survive, Ethiopian Airlines surpassed its initial goals set in 2016 to become an award-winning international carrier. Christo Botes, executive director at Business Partners Limited (BUSINESS/PARTNERS), says that there is a lot that local small business owners can learn from the airline’s success. “Although Ethiopian Airlin...

Byron Jeacocks With the first day of spring officially behind us, it’s important to remember that it’s not just your home that stands to benefit from a good spring clean. Small and medium enterprise (SME) owners are urged to take a moment to revitalise and streamline their business with a thorough review of their operations This is according to Byron Jeacocks, regional general manager at Business Partners Limited (BUSINESS/PARTNERS), in reference to The State of South African Small Business in 2017 report, released by Xero in partnership with World Wide Worx, which reveals that 22,5 percent of SMEs cited keeping up with the competition as one of their biggest challenges. “The business landscape is ever evolving and, as such, it is imperative for business owners to ensure that their processes are up to date and that they have plans in place for the upcoming seasons. This will ensure that they can stay ahead of their competitors.” Jeacocks lists the 10 key areas that SME owners s...